Gem Spotlight - Ramp Defi
Welcome to our first Gem Spotlight. With so much going on in the crypto-verse, we want our combined industry insight and knowledge to take the guesswork out of the cryptocurrency projects we think are worth paying attention to.
To kick things off, we’ll start by taking a look at a very exciting development happening in the world of staking.
When holders stake their assets, they receive a percentage of tokens in return - their ‘yield’. This can range from low double digits all the way up to a few hundred percent a year (APR). Whilst not a bad thing on its own, the problem starts when staking yields are put in context of a full-blown cryptocurrency bull market. Suddenly, 55% APR seems small change when research and a bit of luck can net you a few 1000% in a shorter period of time.
The above problem is often referred to as 'opportunity cost'. Having your capital tied up staking means that you aren’t able to speculate on cryptocurrency price action at the same time - ‘costing’ you opportunity.
To make matters worse, withdrawing assets from staking pools often comes with penalties, as well as spoiling any compound gains that you have built up.
What if there was a way for you to keep your staking yield, and at the same time free up some capital in order to invest in cryptocurrencies, without penalties?
Enter Ramp Defi. Built to solve exactly this problem, Ramp Defi allows holders to deposit their wrapped staked assets into a liquidity pool, in exchange for tokenised USD. This USD can then be used to invest in new cryptocurrency opportunities.
No more having to choose between staking and speculating. Compound your capital and increase your exposure to bull market upside.
And if that wasn't enough, Ramp Defi has also built a ‘cross-chain liquidity bridge’ for both Ethereum and non-Ethereum assets - opening up the staking ecosystem to an even wider crypto market. Users will also be able to borrow and lend their tokenised usd (rUSD and eUSD), yield farm (rFarm) and much more.
Ramp Defi presents a very exciting opportunity for those looking to gain exposure to a new wave of cross-chain liquidity solutions. The addressable market of multi-ecosystem staking and capital liquidity solutions is huge. Staked assets already exceed $22 billion in TVL, with that number likely to increase dramatically over the next few months.
With Ecosystem partners and investors including IOST, ELROND and MOONSTAKE, ALMEDA RESEARCH and ARRINGTON XRP CAPITAL, institutional demand for Ramp’s staking liquidity solution and cross-chain bridge is clear.
To encourage ecosystem growth and liquidity, the platform will have a native token - RAMP. The Public Token Sale is expected to land early September, after the successful and heavily oversubscribed private round. Only $1,160,000 will be raised in total from the sales.
Token Sale Details
The RAMP Token Sale is divided into two stages:
Private Sale: 180,000,000 RAMP at USD0.0060 per RAMP.
Public Sale: 10,000,000 RAMP at USD0.0080 per RAMP.
The fundraise from each funding round is expected to be as follows:
USD1,080,000 from the Private Sale; and
USD80,000 from the Public Sale.
The gross fundraise is expected to be USD1,160,000.